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Blackridgeoil.com
The Price ANFC gets for selling oil  http://www.bloomberg.com/quote/USCSUHC1:IND

2013 Update

The Company expects to see continued reductions in Lease Operating Expenses (LOE) and anticipates LOE to be approximately $7.50 per BOE in 2013.  Based on the Company's development and acquisition plans for 2013, which are currently fully funded, and a forecasted realized crude oil price of $85 per barrel, we anticipate achieving sequential quarter over quarter production growth, as well as annual production, revenue and adjusted EBITDA records from oil and gas operations.

DeCubellis said: "We continue to see basin-wide improvements in well economics due to the cost abatements and drilling efficiencies that began in the second half of 2012.  In 2013, through March 15th, we received 16 Authorizations for Expenditures (AFEs) from our drilling partners with per-well average drilling and completion costs of approximately $8.6 million. This is approximately an 11% reduction from the previous year's average AFE.  We believe we are well positioned to continue converting our leases into production and cash flow as we further develop our asset base in North America's premier unconventional oil  play."

Well Update

Producing Wells:  The following table sets forth Bakken and Three Forks wells in which Black Ridge holds a participating interest that were producing as of December 31, 2012.

Well

Location

Operator

WI(1)

Christensen 159-102-8-5-1H

Williams, ND

Newfield

0.300

Fairbanks 1-20H

Williams, ND

Continental

0.287

Go-State 157-97-2116H-1

Williams, ND

Hess

0.130

Pasternak #1-32-29HC

Williams, ND

G3 Operating

0.125

Peggy Schettler 14-33H

Dunn, ND

Marathon

0.125

Colfax 1X-19H

Williams, ND

Continental

0.106

Go-Hill 158-98-3427H-1

Williams, ND

Hess

0.102

Dahl Federal 2-15H (2)

McKenzie, ND

SM-energy

0.087

Lowe 18-19-158N-99W

Williams, ND

Crescent Point

0.084

Weyrauch 15-11H

Williams, ND

Hess

0.083

Stromme Family Trust 157-101-11C-2-1H

Williams, ND

Petro-Hunt

0.079

Pasternak Trust 157-100-18A-19-1H

Williams, ND

Petro-Hunt

0.078

A.Tufto 18-19 #1-H

Williams, ND

Brigham

0.072

King 157-101-3B-10-1H

Williams, ND

Petro-Hunt

0.068

Sidonia 15-1102H

Mountrail, ND

EOG

0.063

Go-Durning 157-97-2932H-1

Williams, ND

Hess

0.063

Love 11-2 #1H

Williams, ND

Samson

0.062

Erickson 41-25 SWH

McKenzie, ND

Denbury

0.050

Austin 17-20-158N-99W

Williams, ND

Crescent Point

0.049

Paul Peter Coffee 35HA

Dunn, ND

WPX Energy

0.018

Paul Peter Coffee 35HC

Dunn, ND

WPX Energy

0.018

Paul Peter Coffee 35HD

Dunn, ND

WPX Energy

0.018

Blikre 158-94-13B-24-1H

Mountrail, ND

Petro-Hunt

0.016

Burke 24-08H

Mountrail, ND

EOG

0.016

Revolver 1-35H

Mountrail, ND

Slawson

0.016

Revolver 2-35H

Mountrail, ND

Slawson

0.016

White 157-100-17B-20-1H

Williams, ND

Petro-Hunt

0.016

En-Jorstad-157-94-0904H-1

Mountrail, ND

Hess

0.012

Marshall 1-13H

Dunn, ND

Continental

0.012

Miller 157-101-12C-1-1H

Williams, ND

Petro-Hunt

0.011

Vanville 22-2623H

Burke, ND

EOG

0.010

Vanville 21-2635H

Burke, ND

EOG

0.010

Olson 15-36H

Williams, ND

Hess

0.010

Clearwater 1-24-25H 1

Mountrail, ND

Hunt

0.010

Kannegeiter 160-90-17-P-1H

Burke, ND

OXY

0.010

Berger 156-100-7-6-1H

Williams, ND

Liberty

0.010

Opedahl 21x-11

Williams, ND

XTO

0.010

SC-Tami 157-99-0805H-1

Williams, ND

Hess

0.009

Talkington 21-30TFH

Stark, ND

Whiting

0.008

Talkington 41-30PH

Stark, ND

Whiting

0.008

Talkington 11-30PH

Stark, ND

Whiting

0.008

Probe 1-19-30HMB

Mountrail, ND

Slawson

0.008

Clearwater 1-26-23H 1

Mountrail, ND

Hunt

0.007

Lindy 156-100-10-3-1H

Williams, ND

Liberty

0.007

Pankowski 4-6H

Williams, ND

Kodiak

0.007

En-Charles Wood-157-94-1720H-1

Mountrail, ND

Hess

0.006

Lielan 1-10H

Burke, ND

Continental

0.006

EN-Will Trust B-157-94-2635H-1

Mountrail, ND

Hess

0.005

EN-Will Trust B-157-94-2635H-2

Mountrail, ND

Hess

0.005

EN-Will Trust B-157-94-2635H-3

Mountrail, ND

Hess

0.005

Hodenfield 15-23H

Williams, ND

Hess

0.005

Tempe #1-29H

Divide, ND

Continental

0.004

Go-Soine A-156-97-3229H-1

Williams, ND

Hess

0.004

Mathewson 1-30H

Williams, ND

Continental

0.004

Washburne 1-22H

Williams, ND

Continental

0.003

Marcy 1-24H

Williams, ND

Continental

0.003

Marcy 2-24H

Williams, ND

Continental

0.003

Marcy 3-24H

Williams, ND

Continental

0.003

Hokanson 157-99-1A-12-1H

Williams, ND

Petro-Hunt

0.003

Homer 1-14H

Williams, ND

Continental

0.002

Setterlund 159-94-28B-33-1H

Burke, ND

Petro-Hunt

0.002

Orion Federal 5792 42-20H

Mountrail, ND

Oasis

0.002

Scanlan 3-5H

Williams, ND

Kodiak

0.002

Opsal 158-99-26A-35-1H

Williams, ND

Petro-Hunt

0.001

Helstad 158-99-34D-27-1H

Williams, ND

Petro-Hunt

0.001

Feller 1-22H

Williams, ND

Continental

0.001

Vig 157-99-10D-3-1H

Williams, ND

Petro-Hunt

0.001

   

(1)

The working interests are based on Black Ridge's internal records and may be subject to change by operators' third-party legal counsel in preparing final division order title opinions for each well.

(2)

This well was not included in quarter end financial  reporting because the operator is holding the funds related to the Company's working interest pending resolution of third party litigation related to the state of North Dakota's control of riparian acreage.

"Drilling" Wells: The following table sets forth Bakken and Three Forks wells in which Black Ridge holds a participating interest that are either preparing to drill, drilling, awaiting completion or completing as ofDecember 31, 2012

Well

Location

Operator

WI(1)

Stateline 14-3427H

Roosevelt, MT

EOG

0.083

SCHA 33-34 #2TFH

Mountrail, ND

Brigham

0.063

SCHA 33-34 #3H

Mountrail, ND

Brigham

0.063

SCHA 33-34 #4TFH

Mountrail, ND

Brigham

0.063

Hanson 33-28H

Williams, ND

Zenergy

0.036

Louisville 2-9H

McKenzie, ND

Continental

0.021

Moody 159-94-15A-22-1H

Burke, ND

Petro-Hunt

0.018

Jackman 156-100-11-2-1H

Williams, ND

Liberty

0.015

Helstad 157-99-2A-11-1H

Williams, ND

Petro-Hunt

0.002


 

BLACK RIDGE OIL & GAS, INC. (Formerly Ante5, Inc.)

CONSOLIDATED BALANCE SHEETS

       
       
 

December 31,

 

December 31,

 

2012

 

2011

ASSETS

     
       

Current assets:

     

Cash and cash equivalents

$    1,417,340

 

$    1,401,141

Accounts receivable

856,233

 

673,003

Settlement receivable

2,500,000

 

-

Prepaid expenses

1,397,450

 

40,599

Current portion of contingent consideration receivable

-

 

2,309,752

Total current assets

6,171,023

 

4,424,495

       

Property and equipment:

     

Oil and natural gas properties, full cost method of accounting

     

Proved properties

35,248,983

 

10,867,443

Unproved properties

9,055,513

 

13,236,057

Other property and equipment

85,917

 

78,489

Total property and equipment

44,390,413

 

24,181,989

Less, accumulated depreciation, amortization, depletion and allowance for impairment

(5,793,184)

 

(3,325,497)

Total property and equipment, net

38,597,229

 

20,856,492

       

Contingent consideration receivable, net of current portion and allowance

     

of $-0- and $878,650 at December 31, 2012 and 2011, respectively

-

 

3,698,850

Debt issuance costs, net

657,702

 

52,049

Total other assets

657,702

 

3,750,899

       

Total assets

$  45,425,954

 

$  29,031,886

       
       

LIABILITIES AND STOCKHOLDERS' EQUITY

     
       

Current liabilities:

     

Accounts payable, including $160,000 and $-0-

     

of settlement payables, respectively

$    3,113,526

 

$    2,820,936

Accounts payable, related parties, including $116,234

     

and $-0- of settlement payables, respectively

116,234

 

9,206

Accrued expenses

61,666

 

-

Royalties payable, related party

-

 

300,431

Total current liabilities

3,291,426

 

3,130,573

       

Asset retirement obligations

67,145

 

3,900

Revolving credit facilities

5,748,844

 

-

Deferred tax liability

4,732,696

 

1,012,095

       

Total liabilities

13,840,111

 

4,146,568

       

Commitments and contingencies

     
       

Stockholders' equity:

     

Preferred stock, $0.001 par value, 20,000,000 shares

     

authorized, no shares issued and outstanding

-

 

-

Common stock, $0.001 par value, 500,000,000 shares

     

authorized, 47,979,990 and 47,402,965 shares issued and

     

outstanding at December 31, 2012 and 2011, respectively

47,980

 

47,403

Additional paid-in capital

29,847,212

 

28,058,674

Retained earnings (accumulated deficit)

1,690,651

 

(3,220,759)

Total stockholders' equity

31,585,843

 

24,885,318

       

Total liabilities and stockholders' equity

$  45,425,954

 

$  29,031,886

 

 

BLACK RIDGE OIL & GAS, INC. (Formerly Ante5, Inc.)

CONSOLIDATED STATEMENTS OF OPERATIONS

         
         
   

For the Years

   

Ended December 31,

   

2012

 

2011

         

Oil and gas sales

 

$     6,022,540

 

$       1,917,719

         

Operating expenses:

       

Production expenses

 

649,603

 

527,844

Production taxes

 

692,527

 

214,363

General and administrative

 

3,530,643

 

1,850,536

Depletion of oil and gas properties

 

2,443,482

 

919,631

Impairment of oil and gas properties

 

-

 

2,392,742

Accretion of discount on asset retirement obligations

 

4,557

 

509

Depreciation and amortization

 

24,206

 

14,043

Total operating expenses

 

7,345,018

 

5,919,668

         

Net operating loss

 

(1,322,478)

 

(4,001,949)

         

Other income (expense):

       

Interest income

 

1,872

 

1,717

Interest (expense)

 

(1,193,278)

 

(101,956)

Other income

 

-

 

38,075

Settlement income

 

17,020,759

 

-

Settlement expenses

 

(5,874,864)

 

-

Loss on disposal of equipment

 

-

 

(1,061)

Indemnification expenses

 

-

 

(97,986)

Total other income (expense)

 

9,954,489

 

(161,211)

         

Income (loss) before provision for income taxes

 

8,632,011

 

(4,163,160)

         

Provision for income taxes

 

(3,720,601)

 

1,680,905

         

Net income (loss)

 

$     4,911,410

 

$     (2,482,255)

         
         

Weighted average common shares outstanding - basic

 

47,789,225

 

42,882,772

Weighted average common shares outstanding - fully diluted

 

48,061,239

 

42,882,772

         

Net income (loss) per common share - basic

 

$              0.10

 

$              (0.06)

Net income (loss) per common share - fully diluted

 

$              0.10

 

$              (0.06)

 

 

BLACK RIDGE OIL & GAS, INC. (Formerly Ante5, Inc.)

CONSOLIDATED STATEMENTS OF CASH FLOWS

       
       
 

For the Years

 

Ended December 31,

 

2012

 

2011

CASH FLOWS FROM OPERATING ACTIVITIES

     

Net income (loss)

$  4,911,410

 

$ (2,482,255)

Adjustments to reconcile net income (loss)

     

to net cash provided by (used in) operating activities:

     

Depletion of oil and gas properties

2,443,482

 

919,631

Depreciation and amortization

24,206

 

14,043

Impairment of oil and gas properties

-

 

2,392,742

Amortization of debt issuance costs

190,580

 

14,872

Accretion of discount on asset retirement obligations

4,557

 

509

Loss on disposal of equipment

-

 

1,061

Common stock issued for terminated oil & gas acquisition

438,539

 

-

Common stock issued for services

-

 

43,120

Common stock warrants

271,933

 

74,022

Common stock warrants, related parties

45,719

 

13,062

Common stock options, related parties

849,909

 

710,740

Decrease (increase) in assets:

     

Accounts receivable

(183,230)

 

(657,163)

Settlement receivable

(2,500,000)

 

-

Prepaid expenses

(1,424,985)

 

(32,168)

Contingent consideration receivable

6,008,602

 

463,398

Increase (decrease) in liabilities:

     

Accounts payable, including $160,000 and $-0-

     

of settlement payables, respectively

347,744

 

73,202

Accounts payable, related parties, including $116,234

     

and $-0- of settlement payables, respectively

107,028

 

(67,571)

Accrued expenses

61,666

 

(47,267)

Royalties payable, related party

(300,431)

 

(23,169)

Deferred tax liability

3,720,601

 

(1,680,905)

Net cash provided by (used in) operating activities

15,017,330

 

(270,096)

       

CASH FLOWS FROM INVESTING ACTIVITIES

     

Proceeds from sale of oil and gas properties

1,893,649

 

336,925

Purchases of oil and gas properties and development capital expenditures

(21,839,963)

 

(12,731,225)

Purchases of other property and equipment

(7,428)

 

(78,489)

Net cash used in investing activities

(19,953,742)

 

(12,472,789)

       

CASH FLOWS FROM FINANCING ACTIVITIES

     

Advances from revolving credit facilities

16,350,000

 

-

Repayments on revolving credit facilities

(10,601,156)

 

-

Proceeds from the sale of common stock, net of $526,444 of offering costs

-

 

5,616,057

Debt issuance costs paid

(796,233)

 

(66,921)

Proceeds from the exercise of common stock options

-

 

17,280

Net cash provided by financing activities

4,952,611

 

5,566,416

       

NET CHANGE IN CASH AND CASH EQUIVALENTS

16,199

 

(7,176,469)

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD

1,401,141

 

8,577,610

CASH AND CASH EQUIVALENTS AT END OF PERIOD

$  1,417,340

 

$  1,401,141

       
       

SUPPLEMENTAL INFORMATION:

     

Interest paid

$     667,917

 

$                 -

Income taxes paid

$                 -

 

$                 -

       

NON-CASH INVESTING AND FINANCING ACTIVITIES:

     

Purchase of oil and gas properties accrued within accounts payable

$  2,618,145

 

$  2,422,150

Purchase of oil and gas properties through issuance of common stock

$                 -

 

$  4,940,269

Capitalized asset retirement costs

$       58,688

 

$         3,391

Liabilities relieved to additional paid in capital

$     183,015

 

$                 -






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PostSubject
#140   whats up with the sell off here? blindman28 03/14/14 10:10:24 AM
#139   no one has updated the ibox in 1 blindman28 02/28/14 08:27:08 AM
#138   $ANFC Announces Upcoming Conference Schedule.. vindhu 02/27/14 09:58:04 AM
#137   Any ideas why we are marching? laser777 02/25/14 03:10:02 PM
#136   ANFC continues it's march Roy London 02/25/14 02:25:25 PM
#135   thing of beauty..http://stockcharts.com/h-sc/ui?s=ANFC&p=W&yr=3&mn=0&dy=0&id=p41 Roy London 02/19/14 07:21:21 PM
#134   ANFC powerhouse Roy London 02/19/14 01:20:26 PM
#133   dollar break here we come Roy London 02/18/14 03:40:30 PM
#132   going big Roy London 02/18/14 03:32:43 PM
#131   ANFC ready to makes its move Roy London 02/18/14 12:47:30 PM
#130   More green and more to come Roy London 11/21/13 03:21:59 PM
#129   That Acquisition was over half the market cap TheGreyFox 11/20/13 09:39:56 PM
#128   ANFC see a dalla very soon Roy London 11/20/13 06:42:30 PM
#127   Black Ridge Oil & Gas Announces Acquisition of TheGreyFox 11/20/13 05:24:02 PM
#126   come to pappa Roy London 11/20/13 01:50:41 PM
#125   Wow, somethings really driving ANFC higher today. I TheGreyFox 11/15/13 04:34:08 PM
#124   ANFC up 22.9 % now @.75 was .60 stockseekerok 11/15/13 03:43:35 PM
#123   ANFC up 18 % now stockseekerok 11/15/13 03:35:17 PM
#122   ANFC up 11.8 % Today may continue up stockseekerok 11/15/13 01:10:30 PM
#121   Needs a little more time maybe stockseekerok 11/13/13 11:54:21 AM
#120   lets see if this moves it Roy London 11/13/13 09:14:29 AM
#119   @PAPPA - I think I may have seen Jett Rink 08/16/13 07:01:07 PM
#118   i know lol blindman28 08/16/13 11:55:59 AM
#117   no offense but its more that that,lets see. pappa10 08/15/13 11:16:35 PM
#116   to more than a day to catch on blindman28 08/15/13 04:09:41 PM
#115   Here we go/ pappa10 08/15/13 01:36:29 PM
#114   Yea jett that venue change listing did you pappa10 08/11/13 09:57:30 PM
#113   @Pappa - You mean like a senior listing? Jett Rink 08/10/13 04:39:37 PM
#112   I think this venue change may come into pappa10 08/10/13 04:34:02 PM
#111   $ANFC - Black Ridge Oil & Gas Corporate Snapshot Jett Rink 08/09/13 11:31:10 PM
#110   MINNETONKA, Minn., Aug. 8, 2013 /PRNewswire/ -- Black Jett Rink 08/09/13 11:24:04 PM
#109   congrats to shareholders here you guys should have blindman28 08/08/13 07:27:29 PM
#108   What is the basis of cheaper then more Jett Rink 06/13/13 08:34:10 PM
#107   Running 2 to 5 below WTI I think. pappa10 06/10/13 09:59:18 PM
#106   I haven't been active in the Bakken so Jett Rink 06/07/13 12:55:00 AM
#105   Anybody know the latest WTI to Bakken price ?????????? pappa10 05/25/13 09:51:19 PM
#104   $ANFC - Black Ridge Oil & Gas Financial Highlights Jett Rink 05/18/13 03:23:17 AM
#103   You may not want to give up just Jett Rink 05/18/13 03:21:37 AM
#102   talk about bad timing lmao and now there blindman28 05/17/13 01:26:37 PM
#101   i still believe in the company but I'm blindman28 05/17/13 07:33:34 AM
#100   What kind of results do you anticipate? Jett Rink 05/11/13 11:12:42 AM
#99   with the ask thinning out i think we blindman28 05/07/13 04:50:59 PM
#98   @Raw - is there a development plan or Jett Rink 05/04/13 03:59:13 PM
#97   Good basic info! Thx! rawman 05/03/13 10:17:05 PM
#96   Pre market trades are only market makers finishing Jett Rink 05/03/13 08:29:20 PM
#95   Bakken Crude is still @ 3.50$ discount to WTI blindman28 05/03/13 12:24:17 PM
#94   pre market trade this morning do not know blindman28 05/03/13 09:29:57 AM
#93   @Pappa - The low $.60's seem like a Jett Rink 05/03/13 08:22:58 AM
#92   Prediction big positve EBIT coming,more tha 10,000 in Q4. pappa10 04/29/13 11:40:13 PM
#91   I am actually remain very bullish but either Jett Rink 04/29/13 12:08:02 PM
PostSubject